Grocery Stocks Up Last Month Carrefour, Loblaw Companies, Kroger, Sobeys

      From April 17 through May 16 the price of Carrefour stock (nasdaq crrfy) climbed 8% to just under $6.00.  Positives: 1q2013 Latin American sales +14% (currency effects excluded).  In Europe the company performed particularly well in Belgium.

When taken at constant currencies, first quarter sales declined -1.3% to €20.83 billion attributable mostly to South American currency devaluations,

however, investors didn't seem too concerned given that at constant prices, quarter to quarter sales were up +1.3%.  In Europe though, sales were less than stellar:  Outside France, Carrefour revenue -3.5% to €5.46b with the strongest results coming from Belgium.  Sales in France -0.7% -> €9.3b or -1.0% when gas sales are excluded.  Carrefour sales in Latin America up +14% when currency effects are excluded, flat if they are (€4.0b).  Sales growth in Asia flat at +0.3% -> €2.12 billion. 

  company   ticker

 change %

  Loblaw Co      tse:L    +12.73%    Canada
  Metro Inc    tse:MRU      +11.03%    Canada
  Carrefour    epa:CA    +10.30%    international  
  Carrefour    nasdaq:CRRFY         +8.05%    international
  Kroger    nyse:KR      +5.65%    United States
  Sysco    nyse:SYY      +1.97%    USA/Canada/UK  
  Wal-Mart Stores     nyse:WMT       -0.70%    international
  Tesco    nasdaq:TSCDY          -3.08%    international
  Cencosud    nyse:CNSO       -5.09%    Latin America
  Safeway    nyse:SWY       -5.48%    USA/Canada

On April 17, Tesco said that annual profit fell for the first time in nearly two decades.  During this period a consensus estimate of €2.2 billion was made for fiscal year EBIT. 

In Canada, Loblaw Companies is prepping for the July IPO of a new real estate invesment trust to handle its real estate assets.  Loblaws puts the market value of those assets at just over $7.0 billion. Sysco reported a fall in quarterly earnings for the third consecutive quarter ($309m -> $286m -> $221m -> $201m), the quarter on quarter decline was -22.4%.

May 16, 2013:  Wal-Mart USA reports weak sales.  Walmart US same store sales down -1.4% for stores open one year or longer.  The day of the announcement shares were down between -2.1% and -3.2% .


In China, Fresh Food Drives Traffic To Stores: Turnover Is Fast, Prices Are Slightly Better




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